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Buying and Selling in Strategic Market Games

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  • Indrajit Ray

Abstract

Players may be allowed to both buy and sell the same commodity in a strategic market game. Any outcome of such a game can also be obtained as an outcome of a game in which players either buy or sell. However, an equilibrium allocation of the buy and sell game may not be so in the corresponding buy or sell game as the set of achievable allocations for any player, given others' strategies, is different in these two games.

Suggested Citation

  • Indrajit Ray, "undated". "Buying and Selling in Strategic Market Games," Discussion Papers 00/13, Department of Economics, University of York.
    • Handle: RePEc:yor:yorken:00/13
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    File URL: https://www.york.ac.uk/media/economics/documents/discussionpapers/2000/0013.pdf
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    References listed on IDEAS

    as
    1. Dubey, P. & Rogawski, J. D., 1990. "Inefficiency of smooth market mechanisms," Journal of Mathematical Economics, Elsevier, vol. 19(3), pages 285-304.
    2. Shapley, Lloyd S & Shubik, Martin, 1977. "Trade Using One Commodity as a Means of Payment," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 937-968, October.
    3. Dubey, Pradeep & Shapley, Lloyd S., 1994. "Noncooperative general exchange with a continuum of traders: Two models," Journal of Mathematical Economics, Elsevier, vol. 23(3), pages 253-293, May.
    4. Rogawski, J. & Shubik, M., 1986. "A strategic market game with transactions costs," Mathematical Social Sciences, Elsevier, vol. 11(2), pages 139-160, April.
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    Cited by:

    1. Dmitry Levando, 2012. "A Survey Of Strategic Market Games," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 57(194), pages 63-106, July - Se.
    2. Mitra, Manipushpak & Ray, Indrajit & Roy, Souvik, 2024. "A Characterisation of Trading Equilibria in Strategic Market Games," CRETA Online Discussion Paper Series 83, Centre for Research in Economic Theory and its Applications CRETA.

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    More about this item

    Keywords

    Strategic market game; Buy and sell; Buy or Sell.;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games

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